What is the global outdoor power equipment market size?
The global outdoor power equipment market size was estimated at USD 53.42 billion in and is projected to reach USD 76.61 billion by , growing at a CAGR of 6.3% from to .
What is the market outlook for the outdoor power equipment market?
The lawn mowers segment is expected to account for the largest share of the outdoor power equipment market during the forecast period, primarly due to its essential function in lawn maintenance and garden care. With an increasing focus on outdoor activities and gardening, there is a growing demand for outdoor power equipment.
What is the growth rate of outdoor power equipment industry?
North America outdoor power equipment industry held over 37% share in and is expected to register a commendable CAGR from - due to rapid urbanization and a mounting trend toward outdoor leisure activities in the region. Why is the use of outdoor power equipment in lawn mowers growing?
Which region holds the largest share of the outdoor power equipment market?
ASIA PACIFIC region holds the largest share of the outdoor power equipment market. Asia Pacific is expected to grow at the higher CAGR in the outdoor power equipment market throughout the forecast period.
How will the outdoor power equipment market grow in ?
In addition, changing consumer behavior in its spending power and aesthetic appeal for their gardening space is also expected to boost the market's growth. The North America outdoor power equipment industry accounted for 35.28% of the global overall market share in .
Why is the North America outdoor power equipment market growing?
The North America outdoor power equipment industry accounted for 35.28% of the global overall market share in . The regional market’s growth is attributed to North America’s larger geographical area compared to its population, which leads to more gardens and lawns in the region.
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